Personal Finance Advice

This report on MarketWatch has some troubling statistics about Americans and retirement planning.

“roughly half of all working Americans don’t participate in a retirement plan or don’t have an employer-sponsored plan in which to participate.”

“retirees are living on roughly one-third of their preretirement income. And that’s a far cry from the 70% to 80% income replacement experts suggest Americans need to maintain their preretirement standard of living.”

If the only retirement strategy you have at this point is a plan to live off of social security, you and many other Americans are in big trouble.  With the baby boomers expected to bankrupt the social security system sometime in the next 20 years or so, subsequent generations must be especially cognizant of their retirement planning.

Even people who are actively saving for retirement aren’t saving enough.  Healthcare costs are rising so astronomically it will be difficult to maintain a reasonable standard of living as you grow older. 

However, you still have time before the end of the year to contribute the maximum allowed for both your IRA and 401K plans.  For individuals over 50 years the IRS has a provision to allow you to “catch up” on retirement that allows you to contribute an additional amount over the normal allotment for retirement accounts.

The holiday shopping season started off strong with a busy Thanksgiving weekend but since then many retailers have reported that traffic has slowed considerably.  It is also difficult to quantify how much of an effect the toy recall is having on sales.

At this point it’s shaping up as a disappointing quarter.  However, retailers are still holding out hope for a late surge in holiday sales.

Contrary to popular belief the day after Thanksgiving isn’t the busiest shopping day of the year but rather the weekend just before Christmas.  So, if you’ve been procrastinating don’t worry because you’re not alone. 

At least that’s what retailers are hoping and with them desperate for your business, good bargains can still be had.  Many savvy shoppers also realize that some of the best deals can come after Christmas is over.  Whether it is better to shop toward the beginning or end of the holiday season is still a matter for debate.

However, there are some doubts that this late surge will occur this year.  Consumer confidence has taken a sharp hit the last few months with growing concerns of a recession as well as rising food and energy prices.

Many analysts will be studying these holiday sales figures extensively since consumer spending has such a large impact on our economy.

A Master of Business Administration degree in Finance will not only provide you with the basic foundations of business, but also a special focus on finance, which will prepare you for a successful career in the financial sector of the business world.  Such a degree program will give you advanced skills in assessing financial risks and rewards, and best practices - all essential things to know if you want to embark on a high-powered, management level career in finance.

Topics that you might expect to encounter in an MBA in Finance program include corporate financial analysis, global finance, finance markets, and portfolio management.  Financial managers are in high demand because they help to maximize a company’s profits, and eliminate wasteful spending, and according to the U.S. Bureau of Labor Statistics, the demand for financial managers will continue to be on the rise in the coming years as new companies are formed and grow.

While an undergraduate degree in business or finance will get your foot in the door in the financial sector, only an MBA in Finance can take you clear to the top of the corporate ladder.  Those candidates with an expertise in accounting and finance, and particularly those with a master’s degree, are expected to enjoy the best job prospects now, and in the near future.

Obtaining an MBA in Finance shows prospective employers that you’re not only well educated, but also well-versed on financial rules, regulations, best practices, and techniques.  In other words, an MBA in Finance will open up more opportunities for you to succeed.